UPDATE 2-Mexican risks to growth have eased - central bank minutes

MEXICO CITY May 9 (Reuters) - A majority of Mexico's
central bankers believe an economic recovery will continue in
the coming months, though risks to growth remain, minutes of
last month's board meeting released on Friday showed.

Central Bank board members voted 5-0 at their April 25
meeting to hold their benchmark rate at a record
low of 3.50 percent to boost flagging growth, citing tame
consumer price pressures.

"Most board members ... maintained that downside risks to
growth prevail, though the balance of risks has improved
marginally," the minutes said.

A majority of board members pointed to strengthening factory
exports and an incipient improvement in domestic demand, while
all noted an uptick in government spending.

The minutes added: "A majority of board members thought the
Mexican economic recovery will continue in the coming months."

Mexico's central bank cut interest rates three times last
year to spur economic growth which sagged to a four-year-low of
1.1 percent. Analysts cut their estimates for growth this year
to 3.01 percent, a central bank poll showed this week.

A majority of members saw a positive shift for Mexican
financial markets, but also said the U.S. Federal Reserve's
rollback of monetary stimulus could drive further market
volatility, the minutes said.
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